Seoul shares seen rangebound ahead of holiday

SEOUL, Dec 24 (BestGrowthStock) – Seoul shares may move within a
limited range on Friday after Wall Street ended nearly flat and
as persisting geopolitical risks remain likely to keep
investors at bay, analysts said.

“Market will probably move sideways today. U.S. stocks (Read more about the stock market today. ) had
mixed endings. Volume will also be light ahead of the Christmas
holiday,” said Lee Jae-mahn, a market analyst at Tong Yang
Securities.

“North Korea tension is a burden that the market will have
to continue to bear. However unless we see military actions
that are akin to artillery shelling of Yeonpyeong island last
month,
drastic losses are not likely,” Lee added.

North Korea threatened a nuclear “sacred war” on Thursday
and South Korea vowed “merciless counterattack” if it was
attacked again as both sides raised the rhetoric on a day of
more military exercises in the South.[ID:nTOE6BL01]

Defense issues such as military equipment parts maker
Victek
may react to any further developments in South
Korea’s geopolitical situation.

The Korea Composite Stock Price Index (KOSPI)
finished down 0.03 percent at 2,037.53 points on Thursday.

———————-MARKET SNAPSHOT @ 2302 GMT ————

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1256.77 -0.16% -2.070
USD/JPY 83 0.06% 0.050
10-YR US TSY YLD 3.397 — 0.000
SPOT GOLD 1380.37 0.03% 0.480
US CRUDE (CLc1: ) 91.51 1.14% 1.030
DOW JONES 11573.49 0.12% 14.00
ASIA ADRS 140.40 -0.05% -0.07

—————————————————————-

MARKET SUMMARY
*Wall St marks 4th week of gains; S&P slips
*Treasuries prices cut before next week’s supply
*Euro edges higher vs US dollar; Swiss franc tumble
*Oil jumps to highest since 2008 crisis, $100 eyed

STOCKS TO WATCH

SAMSUNG ELECTRONICS

Toshiba Corp will outsource fabrication of system
chips to Samsung Electronics, freeing up resources for its
memory
chip operations, the Nikkei business daily
reported.[ID:nSGE6BM0BE]

HYUNDAI ENGINEERING & CONSTRUCTION

Hyundai E&C said late on Thursday that it has won a 616.3
billion won ($534.1 million) order to build a hospital in
Qatar.[ID:nTOE6BM03P]

SK ENERGY

SK Energy said late on Thursday it would sell a 2.7
trillion
won stake in SK do Brasil Ltd, a subsidiary in
Brazil.[ID:nSEU003207]
(Reporting by Jungyoun Park; Editing by x )

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Seoul shares seen rangebound ahead of holiday